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Sri Lanka at high risk of a currency crisis, warns top Japanese bank - newsfirst.lk - Japan - Sri Lanka - Pakistan - Turkey - Hungary - Romania - Egypt - Czech Republic
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Sri Lanka at high risk of a currency crisis, warns top Japanese bank
COLOMBO (News 1st) – Sri Lanka is among the seven countries with a high risk of a currency crisis, warned Nomura Holdings, Japan’s top brokerage and investment bank.The other countries are  Egypt, Romania, Turkey, the Czech Republic, Pakistan, and Hungary.According to Reuters, the Japanese bank said that 22 of the 32 countries covered by its in-house "Damocles" warning system have seen their risk rise since its last update since May, with the largest increases in the Czech Republic and Brazil.It meant the sum of the scores generated on all 32 by the model had increased sharply to 2,234 from 1,744 since May."This is the highest total score since July 1999 and not too far from the peak of 2,692 during the height of the Asian crisis," Nomura economists said, calling it "an ominous warning sign of the growing broad-based risk in EM currencies".The model crunches 8 key indicators on a country's FX reserves, exchange rate, financial health and interest rates to give an overall score.Based on data from 61 different EM currency crises since 1996, Nomura estimates that a score above 100 indicates a 64% chance of a currency crisis in the following 12 months.Egypt, which has already devalued its currency heavily twice this year and sought an International Monetary Fund (IMF) programme, now generates the worst score at 165.Romania is next on 145 having been propping up its currency with interventions.
Sri Lanka, India abstain on UN resolution calling on Russia to make reparations to Ukraine - newsfirst.lk - China - Iran - India - Indonesia - Sri Lanka - Nepal - Israel - Pakistan - Russia - Bangladesh - Bhutan - South Africa - Cuba - Brazil - city Moscow - North Korea - Syria - Egypt - Belarus - Ukraine
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Sri Lanka, India abstain on UN resolution calling on Russia to make reparations to Ukraine
COLOMBO (News 1st) – Sri Lanka, India and several other countries abstained from voting on a draft resolution approved by the UN General Assembly that recognised that Russia must be responsible for making reparations to Ukraine.The draft resolution, ‘Furtherance of remedy and reparation for aggression against Ukraine’, introduced by Ukraine, was adopted on Monday (14) in the 193-member UN General Assembly by a recorded vote of 94 in favour, 14 against and 73 abstentions, including by India, Bangladesh, Bhutan, Brazil, Egypt, Indonesia, Israel, Nepal, Pakistan, South Africa and Sri Lanka.Those voting against the resolution were Belarus, China, Cuba, North Korea, Iran, Russia and Syria.General Assembly resolutions are non-binding, but they carry political weight.The resolution, co-sponsored by nearly 50 nations, recognised that Russia “must be held to account for any violations of international law in or against Ukraine, including its aggression in violation of the Charter of the United Nations, as well as any violations of international humanitarian law and international human rights law, and that it must bear the legal consequences of all of its internationally wrongful acts, including making reparation for the injury, including any damage, caused by such acts.” In March, 141 members of the General Assembly voted to denounce Russia’s invasion, and 143 in October voted to condemn Moscow’s attempted annexation of parts of Ukraine. India had also abstained on those two votes.
Ranil Wickremesinghe - COP27: Sri Lanka proposes for world’s first International Climate Change University - newsfirst.lk - Sri Lanka - Maldives - Egypt
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COP27: Sri Lanka proposes for world’s first International Climate Change University
COLOMBO (News 1st) – Sri Lankan President Ranil Wickremesinghe proposed to establish an International Climate Change University in Sri Lanka with an ancillary institute in the Maldives to counter obstacles in implementing climate action plans.He was speaking at the COP-27 Conference in Egypt on Tuesday (8), and noted that the institution would be the first of its kind in the world."This seat of learning can be a global centre for green and blue studies, for scientists, environmentalists, researchers, policymakers, development practitioners, and students the world over to inter-change knowledge, transcending national and disciplinary boundaries," said the President.He went on to note that the envisaged climate change university will offer both short-term courses, and post-graduate academic awards to build capabilities on mitigating and adapting to climate change and stressed on the collaboration of multilateral institutions and organizations such as the Commonwealth, World Bank and the Asian Development Bank amongst others needs to be sought for the establishment of the institute of higher learning making it a multi-stakeholder partnership transcending national boundaries. "It is my hope that Sri Lanka's proposal will receive extensive support and endorsement from the international community.
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